Airbus Finalizes Sale of Vector to StandardAero

By Marc Navarro Gonzalez Features Dow Jones Newswires

Airbus SE (AIR.FR) said Friday that it has completed the sale of its helicopter repair unit Vector Aerospace to StandardAero Aviation Holdings.

Continue Reading Below

The aviation giant said the newly-combined company, which will maintain StandardAero's name, employs more than 6,000 people in 42 locations and has annual revenues of approximately $3 billion.

StandardAero is owned by Veritas Capital Fund Management, a private equity firm headquartered in New York City.

In 2016, Vector generated revenues of over $700 million and it employs approximately 2,200 people in 22 locations.

Airbus didn't disclose the value of the transaction.

Write to Marc Navarro Gonzalez at marc.navarrogonzalez@dowjones.com

Continue Reading Below

(END) Dow Jones Newswires

November 03, 2017 13:54 ET (17:54 GMT)